IMS Capital Management Makes New $370,000 Investment in Thomson Reuters Co. (NYSE:TRI)

IMS Capital Management bought a new stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,373 shares of the business services provider’s stock, valued at approximately $370,000.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Thomson Reuters by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock valued at $894,442,000 after acquiring an additional 41,680 shares during the period. FIL Ltd grew its holdings in Thomson Reuters by 9.8% during the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after purchasing an additional 445,444 shares in the last quarter. TD Asset Management Inc grew its holdings in Thomson Reuters by 7.9% during the 1st quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock valued at $630,534,000 after purchasing an additional 295,301 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Thomson Reuters by 0.8% during the 4th quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock valued at $260,723,000 after purchasing an additional 13,747 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Thomson Reuters by 3.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,333,533 shares of the business services provider’s stock valued at $207,804,000 after purchasing an additional 50,367 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

TRI has been the subject of a number of recent analyst reports. Scotiabank raised their price target on shares of Thomson Reuters from $159.00 to $164.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. UBS Group raised their price target on shares of Thomson Reuters from $177.00 to $190.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Canaccord Genuity Group raised their price target on shares of Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a report on Friday, May 3rd. National Bank Financial raised shares of Thomson Reuters from an “underperform” rating to a “sector perform” rating in a report on Tuesday, April 23rd. Finally, Canaccord Genuity Group raised their price objective on shares of Thomson Reuters from $149.00 to $156.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $171.82.

Thomson Reuters Stock Performance

Shares of NYSE TRI traded down $1.44 during midday trading on Friday, hitting $157.43. The company’s stock had a trading volume of 519,024 shares, compared to its average volume of 606,982. Thomson Reuters Co. has a 1-year low of $117.46 and a 1-year high of $176.03. The firm’s fifty day moving average price is $166.92 and its 200-day moving average price is $160.49. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $70.79 billion, a P/E ratio of 29.99, a P/E/G ratio of 6.02 and a beta of 0.72.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.40%. Thomson Reuters’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.84 EPS. On average, sell-side analysts forecast that Thomson Reuters Co. will post 3.7 EPS for the current fiscal year.

Thomson Reuters Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $0.146 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.58 annualized dividend and a yield of 0.37%. Thomson Reuters’s dividend payout ratio is presently 41.14%.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.